Fidelity Advisor Correlations

FPDIX Fund

USD 61.21 0.58 0.94%

The current 90-days correlation between Fidelity Advisor 529 and Vanguard Total Bond is 0.35 (i.e., Weak diversification). The correlation of Fidelity Advisor is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Fidelity Advisor Correlation With Market

Almost no diversification

The correlation between Fidelity Advisor 529 and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Advisor 529 and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Advisor 529. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Fidelity Mutual Fund

0.82	VTSAX	Vanguard Total Stock	Pair Corr
0.81	VFIAX	Vanguard 500 Index	Pair Corr
0.84	VTSMX	Vanguard Total Stock	Pair Corr
0.84	VITSX	Vanguard Total Stock	Pair Corr
0.84	VSMPX	Vanguard Total Stock	Pair Corr
0.82	VSTSX	Vanguard Total Stock	Pair Corr
0.97	VTIAX	Vanguard Total Inter	Pair Corr
0.81	VFINX	Vanguard 500 Index	Pair Corr
0.79	VFFSX	Vanguard 500 Index	Pair Corr
0.74	VBTLX	Vanguard Total Bond	Pair Corr
0.92	NHS	Neuberger Berman High	Pair Corr
0.96	PHYEX	Pgim High Yield	Pair Corr
0.77	BHSRX	Blackrock Health Sciences	Pair Corr
0.95	SRJCX	Jpmorgan Smartretirement	Pair Corr
0.93	BDSKX	Blackrock Advantage Small	Pair Corr
0.82	CUSEX	Capital Group Equity	Pair Corr
0.92	DMYBX	Dreyfus Short Interm	Pair Corr
0.96	WMCVX	Wasatch Small Cap	Pair Corr
0.9	GCEPX	Goldman Sachs Clean	Pair Corr
0.91	EMDZX	Prudential Emerging	Pair Corr
1.0	FFFHX	Fidelity Freedom 2050	Pair Corr
0.98	JDINX	Janus Overseas	Pair Corr
0.95	FAXTX	American Funds 2065	Pair Corr
0.9	VEXPX	Vanguard Explorer	Pair Corr
0.9	ANFFX	New Economy Fund	Pair Corr
0.94	IRSNX	Voya Target Retirement	Pair Corr
0.9	CVKFX	Pioneer Disciplined Value	Pair Corr
0.84	FDBLX	Federated Bond	Pair Corr
0.94	RLEMX	Lazard Emerging Markets	Pair Corr
0.86	SDLAX	Siit Dynamic Asset	Pair Corr
0.91	OGIIX	Oppenheimer Global	Pair Corr
0.95	DNVYX	Davis New York	Pair Corr
0.94	LHYOX	Lord Abbett High	Pair Corr
0.83	SBCCX	Moderately Servative	Pair Corr
0.94	OGMNX	Oppenheimer Gold Spec Steady Growth	Pair Corr
0.97	FLSJX	Franklin Lifesmart 2050	Pair Corr
0.94	INUTX	Columbia Dividend	Pair Corr
0.91	VPCCX	Vanguard Primecap	Pair Corr
0.95	PRRCX	Pioneer Flexible Opp	Pair Corr
0.99	BALFX	American Balanced	Pair Corr

Related Correlations Analysis

	VTSAX	VFIAX	VTSMX	VITSX	VSMPX	VSTSX	VTIAX	VFINX	VFFSX	VBTLX
VTSAX		0.88	0.89	0.89	0.89	1.0	0.71	0.88	1.0	0.47	VTSAX
VFIAX	0.88		1.0	1.0	1.0	0.88	0.67	1.0	0.88	0.46	VFIAX
VTSMX	0.89	1.0		1.0	1.0	0.89	0.7	0.99	0.88	0.49	VTSMX
VITSX	0.89	1.0	1.0		1.0	0.89	0.7	0.99	0.88	0.49	VITSX
VSMPX	0.89	1.0	1.0	1.0		0.89	0.7	0.99	0.88	0.49	VSMPX
VSTSX	1.0	0.88	0.89	0.89	0.89		0.71	0.88	1.0	0.47	VSTSX
VTIAX	0.71	0.67	0.7	0.7	0.7	0.71		0.67	0.68	0.8	VTIAX
VFINX	0.88	1.0	0.99	0.99	0.99	0.88	0.67		0.87	0.45	VFINX
VFFSX	1.0	0.88	0.88	0.88	0.88	1.0	0.68	0.87		0.44	VFFSX
VBTLX	0.47	0.46	0.49	0.49	0.49	0.47	0.8	0.45	0.44		VBTLX
	VTSAX	VFIAX	VTSMX	VITSX	VSMPX	VSTSX	VTIAX	VFINX	VFFSX	VBTLX

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Risk-Adjusted Indicators

There is a big difference between Fidelity Mutual Fund performing well and Fidelity Advisor Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Fidelity Advisor's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VTSAX	0.56	0.05	(0.02)	(0.49)	0.72	(0.59)	1.11	(1.28)	3.73
VFIAX	0.54	(0.01)	(0.04)	0.05	0.71	(0.55)	0.99	(1.22)	3.61
VTSMX	0.56	(0.01)	(0.03)	0.05	0.71	(0.60)	1.11	(1.28)	3.74
VITSX	0.56	(0.01)	(0.03)	0.05	0.71	(0.60)	1.11	(1.28)	3.73
VSMPX	0.56	(0.01)	(0.03)	0.05	0.71	(0.60)	1.11	(1.28)	3.73
VSTSX	0.56	0.05	(0.02)	(0.50)	0.71	(0.59)	1.11	(1.28)	3.74
VTIAX	0.58	0.15	0.17	0.31	0.42	(0.65)	1.47	(1.18)	4.10
VFINX	0.55	(0.01)	(0.04)	0.04	0.72	(0.54)	1.06	(1.22)	3.61
VFFSX	0.54	0.04	(0.03)	(0.36)	0.72	(0.54)	0.99	(1.23)	3.61
VBTLX	0.14	0.01	(0.22)	0.22	0.00	(0.18)	0.31	(0.31)	0.62

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Fidelity Advisor Correlations

Fidelity Advisor Correlation With Market

Almost no diversification

Moving together with Fidelity Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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